Mediation provides parties to a dispute with the opportunity to resolve a matter on their own initiative and terms, outside the formal structure of court-based litigation, at a fraction of the cost of an arbitration or a trial.

These are considerations to take to avoid challenges to awards based on “evident partiality,” especially in light of the differing standards for “evident partiality” found in jurisdictions across the country.

Taking the time during contract negotiations to anticipate potential disputes and tailor the arbitration clause accordingly can protect a party’s interests and save time, money and frustration down the line.

It may be time to pen a new mythology, one in whose plot arbitration has officially arrived, carrying with it many exciting options and some new—and highly effective—rules with which to practically utilize it.